New York A 8306: Increases the value of a motor vehicle exempt from the provisions of a will or intestate distribution for the benefit of the family of a decedent

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 Speaker Carl E. Heastie

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A08306 Summary:

BILL NOA08306 

&nbsp

SAME ASSAME AS S09767

&nbsp

SPONSORCarroll P

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §5-3.1, EPT L

&nbsp

Increases the value of a motor vehicle exempt from the provisions of a will or intestate distribution for the benefit of the family of a decedent.

Go to top A08306 Actions:

BILL NOA08306 

&nbsp

05/12/2025referred to judiciary

01/07/2026referred to judiciary

Go to topA08306 Committee&nbspVotes:

Go to topA08306 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA08306 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8306

 2025-2026 Regular Sessions

 IN ASSEMBLY

 May 12, 2025
 ___________

 Introduced by M. of A. P. CARROLL -- (at request of the Department of
 Motor Vehicles) -- read once and referred to the Committee on Judici-
 ary

 AN ACT to amend the estates, powers and trusts law, in relation to the
 value of a motor vehicle exempt from the provisions of a will or
 intestate distribution for the benefit of the family of a decedent

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subparagraph 5 of paragraph (a) of section 5-3.1 of the
 2 estates, powers and trusts law, as amended by chapter 437 of the laws of
 3 2010, is amended to read as follows:
 4 (5) One motor vehicle not exceeding in value [twenty-five] fifty thou-
 5 sand dollars. In the alternative, if the decedent shall have been the
 6 owner of one or more motor vehicles each of which exceed [twenty-five]
 7 fifty thousand dollars in value, the surviving spouse or decedent's
 8 children may acquire one such motor vehicle from the estate, regardless
 9 of the fact that the decedent may also have been the owner of another
 10 motor vehicle of lesser value than [twenty-five] fifty thousand dollars,
 11 by payment to the estate of the amount by which the value of the motor
 12 vehicle exceeds [twenty-five] fifty thousand dollars; in lieu of receiv-
 13 ing such motor vehicle, the surviving spouse or children may elect to
 14 receive in cash an amount equal to the value of the motor vehicle, not
 15 to exceed [twenty-five] fifty thousand dollars. If any motor vehicle so
 16 acquired by the spouse or children of the decedent was a specific legacy
 17 in decedent's will, the payment to the estate of the amount by which the
 18 value of the motor vehicle exceeds [twenty-five] fifty thousand dollars
 19 shall vest in the specific legatee.
 20 § 2. This act shall take effect on the first of January next succeed-
 21 ing the date on which it shall have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09978-01-5

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